Aston Martin and the new SUV later this year

The British luxury car manufacturer Aston Martin (AML) is launching its first ever sport utility vehicle later this year. The new car, called DBX, will be important to the company after the weak demand in the UK and in Europe due to growing economic concerns and Brexit.

Aston Martin, which had its IPO last October in London Stock Exchange, is now trading below 5  pounds, while the IPO-price was 19 pounds per share, valuing the company at 4,3 billion pounds at that time.

The company was founded more than one hundred years ago by founders Lionel Martin and Robert Bamford in 1913 in a small London workshop. According to the company strategy Aston Martin will launch full EV capability by 2022. The aim is also to be the British car company that create the most beautiful and accomplished automotive art in the world.

The London Stock Exchange closed today down 1,13 % to 7067 points, while in Germany the Dax-index closed down 0,70 % to 11 412 points and in France the CAC 40 -index closed down 0,27 % to 5236 points.

 

 

 

 

 

Business Finance Tech

Tesla´s Q2 deliveries 95 356 – on track with China factory & Model Y

The US electric car manufacturer Tesla (TSLA) announced its second quarter results, which show that the company in on track with the Shanghai Gigafactory plant and with the new model, Model Y. It means the new factory would be ready by the end of this year and the new model by the fall 2020.

The company said its Q2 deliveries were 95 356 vehicles and they reach a record production of 87 048 vehicles. During the period Model 3 deliveries were 77 634 vehicles and the average selling price (ASP) was around 50.000 dollars. Tesla also said it expects its weekly production reach 10.000 by the end of the year. The total annual production expectation remained at 360.000- 400.000 vehicles.

The free cash flow was 614 million dollars. The car revenue was 5,3 billion dollars compared to 3,7 billion dollars in the previous quarter. The loss of car operations was 167 million dollars compared to 521 million dollars in the previous quarter and 621 million dollars a year earlier. The CEO Elon Musk said in the conference call that he expects the company to turn profitable during the rest of the year.

Business Finance

Tesla Q1 revenue 4,5 billion dollars – profitable again in Q3

The SUV cars manufacturer Tesla (TSLA)  published its Q1 figures and according to the release, the Q1 revenue was 4,5 billion dollars during the period. The Refinitiv estimate was 5,2 billion dollars. The interim report was published after the trading closing in Wall Street on Wednesday evening.

– We expect Tesla to return to profitability in Q3 and significantly reduce our loss in Q2, said the CEO Elon Musk in the release.

The company operating loss was 522 million dollars during the quarter and net loss 702 million dollars, which include 188 million dollars of non/recurring charges. The loss per share was 4,10 dollars compared a profit of 0,81 dollars at the year end and loss of 4,19 dollars a year ago.

The company ended the quarter wiht 2,2 billion of cash, which shows  a 1,5 billion dollars reduction the the year end situation. The reason behind was the 920 million convertible bond repayment and the increase of number of vehicles in transit to customers.

The company has announced earlier that the Q1 deliveries were 63.000 vehicles, when the market estimates were 76.000 vehicles. These  challenges have caused vehicle deliveries to shift into Q2.

Tesla started  production and delievires of Model 3 vehicles for overseas markets during the first quarter. And this was also one of the reasons for delays in deliveries and shifts to the Q2. Tesla said it will focus further to improve operations, cost efficiency and customer experience globally.

– If our Gigafactory Shanghai is able to reach volume production early in Q4 this year, we may be able to produce as many as 500 000 vehicles globally in 2019. This is an aggressive schedule, but it is what we are targeting. However, based on what we know today, being able to produce over 500 000 vehicles globally in the 12/month period ending June 30, 2020 does not appear very likely, he said in the release.

According to Musk, the company operating cash flow less capex should be positive in every quarter, including the Q2. And due to the cost reduction and higher deliveries, the company should return to profitability in Q3.

Tesla shares closed down nearly 2 percent today in Wall Street. The stock closed -1,99 % to 257,85 dollars.

Business Finance Tech

The car of the year: Jaguar i-pace

The car of the year, Jaquar i-pace, is an exciting new friendship. This electric SUV car is full of innovations and design. According to the company, it is the culmination of years of engineering and arts. And so it is.

My first testdrive ever with Jaguar was exciting. The batteries of the Jaguar i-pace are high energy density lithium-ion cells, which are located within the floor, between the axles. They offer low centre gravity which is a perfect touch for winter roads.

And yes, electric car is silent also inside the car. Jaguar will give you a comprehensive 8 year warranty or 160.000 kilometres for the batteries (90 kWh). In some cases, the warranties might be shorter ones, like 5 year or 100 000 kilometres, so this is a plus for Jaguar.

According to the company, the driving range for a single full charge, is about 480 km on the WLTP standards (worldwide light vehicle test procedure). This new process, which has been in force from 2017, measures closer the real-world driving behaviour. It is about more demanding test procedure than before. It is about emissions, range, fuel and energy consumption in passanger vehicles in Europe.

Jaguar sport electric car shows the very best craftmanship of the British car industry. This sporty, modern and stylish interior will balance the new and old, like the pre-cool or pre-heat functions in the cabin via the Jaguar application.

This all-wheel-drive, two electric motors SUV is good to steer and park. The dimensions inside the car are within reach and the design allows you to optimize the steering.jipaceva04profile120918-resize-1221x814-crop-1140x814

Jaguar is also committed to reduce the dependency of fossil fuels, using fewer natural resources and creating less waste as part of the company approach to responsible and sustainable business development.

 

Lifestyle Tech Travel

Tesla: Model Y starting 39 000 dollars

Teslamotors (TSLA) has published more info related to its new mid-size , all-electric SUV, called Model Y.  According to the company information, it has been designed for maximun versatility and safety.  The Standard Range version will start at 39.000 dollars and it will have batteries to 230 miles of range while Model Y Long Range will be able to travel up to 300 miles on a single charge.

Tesla says the Model Y is the designed to be the safest mid-size SUV. It includes for example low center of gravity and rigid body structure. According to the company information, the car can achieve better driving range with less energy than other EVs on the market because of the high-efficiency in the energy usage.

Delieveries are expexted to begin in fall 2020 for Model Y Performance, Long Range Rear-Wheel Drive and Dual-Motor All-Wheel Drive variants. And spring 2021 for the  Model Y Standard Range.

Lifestyle Tech Travel

Polestar 2 – a new premium SUV

polestar-2-reveal-thomas-ingenlath-004

The Polestar company has launched its premium SUV and electric car Polestar 2. According to company info, the car has two electric motors and a 78 kWh battery capacity that will enable a targeted range of 500 km.

– Polestar 2 will only be available for ordering online. The guide purchase price for the launch version of Polestar 2 is 39.900-59,900 euros with subscription pricing to follow at a later date. Pre-orders are open at polestar.com. Production of Polestar 2 begins in early 2020 in China for global markets in both left- and right-hand drive, the company says in the press release.

Polestar 2 has embed Anroid system which enable the use of Google Assistant, Google Maps and Google Play.  It also has natural voice control and a new 11-inch touch screen display.

The company, which is owned by Volvo Car Group and the Chinese Zheijang Geely Holding, says that Polestar 2 will also be available in a network of soon-to-be-opened Polestar Spaces, that is Polestar Brand Stores.

This SUV´s initial launch markets include China, the United States, Canada, Belgium, Germany, the Netherlands, Norway, Sweden and the UK. Other markets are under consideration for future expansion, Polestar says.

Lifestyle Tech

Tesla on track with Model S deliveries – new CFO from Google

The Californian electric car manufacturer Tesla (TSLA) announced yesterday evening its third quarter results. According to the press release, the deliveries of the sport utility vehicle (SUV) Tesla S-model is on track and the company said it will reach the year targets this year. Tesla said it has delivered a record of 11.603 new cars during the quarter and expect the shippings to be 17.000 – 19.000 vehicles during the last quarter.

Tesla said also that the orders related to the new luxury crossover Model X have been accelerated during the period. The shippings are expected to happen during the next year in Europe. Third quarter revenue were 936 million dollars, compared to 954 million dollars during the previous quarter. Gross margin was 25,1 percent. Loss before income tax was 228 million dollars compared to loss of 188 dollars during the previous quarter. The loss per share was 1,78 dollars.

The company also said it has updated about 40 000 cars with its new autopilot programm. It helps drivers to avoid risks related to front and side collisions and keep the car on the road. On the other hand Tesla is also thinking ways how to enhance the safety issues among drivers when using autopilot.

Company also announced a new CFO, Jason Wheeler, who will start his job during November. He is former executive in the Google´s Finance division.

During the conference call, an analyst from Morgan Stanley, asked about Tesla´s long term strategy related to ondemand autoplatform. The idea of this, if Tesla is seeking also new cash generated income models through sharing economies, like Tesla´s own on-demand autoplatform. CEO Elon Musk did not close any comment on that.

Tesla (TSLA) shares closed down 2,5 percent to 208,35 dollars, but after hour trading the share was up nearly 9 percent.

Business Tech